Story image

Fliway to raise up to $50 mln in first NZ IPO of the year

26 Feb 15

Fliway Group, the transport and logistics group, will seek up to $50 million in New Zealand's first initial public offering of the year, with a sale expected next month.

The Auckland-based company, owned by managing director Duncan Hawkesby and his wife Gretchen, will sell shares to the public and institutional investors to raise between $30 million and $50 million, it said in a statement. The offer is being arranged by Forsyth Barr, the lead manager, and details are expected to be announced next month.

"An initial public offering of new and existing shares allows the business to raise capital while allowing my family to retain a significant shareholding in Fliway," Duncan Hawkesby said.

Gretchen Hawkesby is the daughter of New Zealand's richest man, billionaire Graeme Hart, and her husband Duncan is the son of former broadcaster and winemaker John Hawkesby.

The company employs more than 400 people offering global supply chain services from international freight to warehousing and domestic delivery, according to its website.

Duncan Hawkeby is listed as the sole director of the Fliway group of companies according to Companies Office documents.

Fliway owns 50 percent of United Parcel Service - Fliway (NZ) with Atlanta, Georgia-based UPS International Freight Forwarding. The unit has been trading since April 1998, and generated a profit of almost $507,000 on revenue of $16.5 million in calendar 2007, the last year the company filed financial statements with the Companies Office.

Soul Machines' virtual humans go mainstream
An Auckland AI firm renowned for its work creating ‘digital humans’ is now unleashing its creativity to the wider market.
Hands-on review: The Logitech R500 laser presentation remote
With a clever ergonomic design, you’ll never have to glance at the device, unless you deliberately look to use the built-in laser pointer to emphasise your presentation.
GCSB welcomes Inspector-General's report on intelligence warrants
Intelligence warrants can include surveillance, private communications interception, searches of physical places and things, and the seizure of communications, information and things.
Lightning Lab accelerator delves into tourism
“It’s great to see the tourism sector taking a proactive and collaborative approach to innovation."
Apax Partners wins bidding war for Trade Me buyout
“We’re confident Trade Me would have a successful standalone future," says Trade Me chairman David Kirk
Verifi takes spot in Deloitte Asia Pacific Fast 500
"An increasing amount of companies captured by New Zealand’s Anti-Money laundering legislation are realising that an electronic identity verification solution can streamline their customer onboarding."
Homegrown stress relief app to be launched next year
Researchers at the University of Auckland and an Auckland-based creative agency are working together to create a ‘world first’ app that they believe will help with stress relief.
How blockchain will impact NZ’s economy
Distributed ledgers and blockchain are anticipated to provide a positive uplift to New Zealand’s economy.